Market Holds Steady at 18,000

The market held onto yesterday's gains today, closing up just barely in slightly slower than average trading. The Dow gained 38.97 points to close at 18,039.37. The S&P 500 rose 3.66 points to close the day at 2,108.86. The NASDAQ performed well today, adding on another 5.82 points to end the day up to 5,082.51.

Twitter (TWTR) CEO to Step Down

According to the latest reports, the CEO of Twitter (TWTR) Dick Costolo is set to step down.
Following weak quarterly earnings and problems with revenues, the CEO will step down on July 1st. Interim CEO and fellow co-founder Jack Dorsey is slated to step up and fill the position. Shares of Twitter stock remained flat on the news today, but were up in the aftermarket. At the close of regular trading today, Twitter lost less than a point to finish the day at $35.84.

Energy Companies Down on Stagnant Oil

The price of a barrel of oil has been holding steady for the past 10 days around the $60 mark. Energy companies, however, have been falling fast. In trading today, while the price of oil remained relatively steady, many energy companies took a tumble.

Transocean (RIG) lead the day in real losses, falling 5% to close the day down 0.95 points to $18.13 per share. Chesapeake Energy (CHK) and Diamond Offshore (DO) were both down as well. Chesapeake posted a loss of 4.29% to close at $12.50. Diamond dropped 4.20% to $29.01. Noble Corporation (NE) was down 4% to close the day's trading at $16.62, while CONSOL Energy (CNX) dipped 3.83% to $26.34.

Blue Chips Up Market-Wide

Blue chip stocks help to anchor the market on days like this, where stocks are sliding but the market is holding on in the black. In trading today, it was the blue chips that helped to preserve the gains that the rest of the market was posting. Blue chips were up across all of the sectors, including health services, industrial technologies, and banking.

United Healthcare (UNH) held steady with a single point gain. United closed the day at $119.32. 3M (MMM) put on 0.82 points to close at $159.86. Banking giant Goldman Sachs (GS) added another 0.81 points to close the day's trading up to $213.94.

Citrix Systems (CTXS) Recovers from Recent Downturn

After a tough week of trading, Citrix (CTXS) staged a comeback today. The tech sector as a whole was up and trading well, recovering from the latest downturn which only winged it. The database and app provider rose 6.70% on the day, posting a gain of 4.42 points to close at $70.39.
Published on Jun 11, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2016. Content published with author's permission.

Posted in ...